Swiss National Bank Has $111.32 Million Stake in Garmin Ltd. $GRMN

Swiss National Bank raised its position in Garmin Ltd. (NYSE:GRMN) by 7.0% during the 1st quarter, HoldingsChannel reports. The fund owned 479,800 shares of the scientific and technical instruments company’s stock after buying an additional 31,400 shares during the quarter. Swiss National Bank’s holdings in Garmin were worth $111,318,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Westmount Partners LLC lifted its position in shares of Garmin by 1.9% in the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 42 shares in the last quarter. Caldwell Trust Co increased its stake in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after buying an additional 43 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in Garmin by 6.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $162,000 after buying an additional 45 shares during the last quarter. Fulton Bank N.A. lifted its position in Garmin by 2.9% during the 1st quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 47 shares in the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Garmin by 0.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after buying an additional 48 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GRMN shares. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.80% of the company’s stock.

Garmin Trading Down 1.7%

NYSE:GRMN opened at $245.23 on Tuesday. The stock has a 50 day simple moving average of $238.23 and a 200 day simple moving average of $233.94. The stock has a market cap of $47.29 billion, a P/E ratio of 27.34, a PEG ratio of 2.95 and a beta of 0.90. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $1.61 earnings per share. Garmin’s revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.